Top Features of a Mobile eWallet App

Avantika Shergil By Avantika Shergil  |  Sep 6, 2023  |  App Development Fintech
Features of an E-Wallet App

Modern customers are empowered by sophisticated technologies and looking for bespoke solutions to ease their finance handling. This has made E-wallet Apps one of the top mobile payment trends., E-wallets such as PayPal, PayTM, and others are skyrocketing and expected to evolve in the upcoming time.

When the pulse of E-wallet trends is checked, it’s found that modern e-wallets need to facilitate several financial tasks other than basic features to maximize ROI. That’s why the extensive list of features to be integrated into e-wallets is defined which ensures the E-wallet app’s success. Take a deep dive into the list of features that e-wallet apps need to incorporate to obtain loyal customers.

Best Key Features That Make Your E-wallet Application Stand Out

Seamless Customer Onboarding

Seamless Customer Onboarding

The regulatory requirements in the FinTech industry make it necessary for e-wallet service providers to ask for customers’ identity and financial information. This makes the onboarding process troublesome for new users and encourages app abandonment. One study revealed that almost 40% of customers abandon a mobile app during the onboarding process.

Hence, e-wallet service providers must provide their users with a seamless customer onboarding experience while keeping regulatory compliance intact. One way of doing it is to allow your customers to verify their identity online by taking a picture of their documents via your mobile e-wallet app. Moreover, the user interface and user experience are also vital to keep the onboarding process interesting.

Instant Payments

Instant Payments

It will not make sense to call your mobile payment app a “wallet” if the users cannot make payments instantly due to technical issues such as server errors. Hence, your e-wallet app’s availability is essential to give users a sense of immediate access to their money. An instant payment feature is the one that will realize a cashless society. Furthermore, another vital aspect to consider for ensuring seamless and secure transactions is payment gateway integration. It enables a smooth and hassle-free transfer of funds from the user’s e-wallet to the merchant’s account.

Contactless Merchant Payments

Contactless Merchant Payments

“Effortless” is the word you should focus on while developing payment options for your mobile e-wallet app. Needless to mention that more and more merchants are adopting emerging financial technologies to facilitate cashless payments. Contactless payment methods such as  NFC (Near Field Communication) make the customer checkout experience effortless.

Did you know Coca-Cola was among the first companies to implement mobile payment technology?

QR-enabled Technology

QR-enabled Technology

E-wallets are increasingly using QR technology to enable hassle-free transactions at speed. It involves QR code scanning by the users through their e-wallet app, which is shown at the merchant’s checkout counter. Digital wallets remove the need for providing payment information or card details. The QR-enabled transactions are safe, reliable, and efficient. Hence, including such a feature would be beneficial to your e-wallet app.

Payment Process is Simplified

online payment application

A feature that helps make payments for different purposes, say gas, electricity, mobile recharges, bills, and other bookings like train, flight, bus, hotel, and more. The e-wallets should also facilitate an auto-payment option along with reminders so that payments are never missed. This way users can seamlessly manage and pay for the routine or monthly expenses conveniently.


Mobile wallets are meant for convenience and reliability. Therefore, it requires E-wallet app UI to be intuitive and user-friendly for keeping tabs on transactions. Also, having a user-friendly e-wallet app enables users to carry out various actions such as adding money to the wallet, fund transfers, and balance checking with ease. This will encourage users to use your e-wallet app repeatedly for any transaction and make them your regulars.

Chatbots for real-time assistance

All e-wallet users are not tech-savvy and they need assistance anytime, anywhere. That’s where chatbot integration in the e-wallet app will help. The users will be able to connect with the business’s customer support and get the query resolved in real-time. The chatbot feature allows users to ask questions, and report issues, and other things about products/services. Direct and stellar communication results in enhanced user experience and improved user engagement. Such a feature will also help to increase the trustworthiness of online wallet apps and increase user retention rates.

Transaction History and eWallet Passbook

eWallet Passbook

Many times, users want to see their spending to manage their expenditures. That’s where the feature to view previous transactions showcasing past purchases and payments’ history will help. The continuous push notifications when any transaction has been made let the users stay informed about their expenditures.  Therefore, you should provide your e-wallet mobile app users the ability to check their e-wallet transaction history. The passbook should classify the payments via bank account and e-wallet separately. Also, every transaction should contain the transaction value, the receiver’s details, the time and date of payment, and additional comments that users might note when making the transaction.

The E-wallet passbook can also be implemented for USSD mobile wallets. The users can access the transactional history through USSD codes on their smartphones.

Wallet-to-Bank and Bank-to-Bank Money Transfers

You should enable your e-wallet users to pay to merchants who don’t account with your e-wallet system. Hence, your e-wallet app should have a feature that enables users to transfer money to the payee’s bank account.

Not every e-wallet user will be willing to add money to their digital wallet, and therefore your e-wallet app should be able to draw money from the user’s bank account and make the payment instantly.

Paypal, Amazon, Cred, PayTM, GPay, and Stripe are among the most popular payment gateways you can use for your e-wallet app. However, you should choose the right payment gateway depending on your geographical market location.

E-wallet app usage is not limited to making payments for purchases. Instead, they facilitate users to transfer money from one E-wallet to another E-wallet or one bank to another bank account. The complete process should be quite easy, simple, and secure to carry out.

Peer-to-Peer (P2P) Payments

Nowadays, paying back to friends or bill splitting has become a very common phenomenon, which is difficult to manage traditionally. The E-wallet app facilitates the same with P2P payments. Such feature allows users to send/receive money to/from through contacts. PayPal is the best example for implementing this feature, which allows users to leverage the wallet for personal and professional purposes hassle-free.

Bill Payments

An e-wallet app must-have more usability than just making P2P money transfers and merchant payments. Modern customers prefer features such as paying mortgages, rents, utility bills, loans, prepaid/postpaid mobile bills, and accessing many other financial services through e-wallets. It becomes possible by partnering with third-party service providers to enable secure and easy payments.

Giving users the option to spend their e-wallet money will encourage them to store and accept money in the mobile wallet app. As a result, the users become loyal to your e-wallet mobile app and also probably will advocate your e-wallet app to others.

Security and Data Integrity

Even though e-wallet apps are getting popular and the number of users are increasing rapidly there are some people who are afraid of using digital wallets because of security concerns. So, security remains the top priority for E-wallet app development.  E-wallet mobile app security is a prominent aspect of regulatory compliance and customer acquisition. Take the example of any financial solution; security and data integrity is the foremost concern. Although e-wallets tend to be more secure than debit/credit cards, security concerns remain intact for regulatory compliance.

You can enhance your mobile wallet security by implementing technologies such as multi-factor authentication, tokenization, end-to-end encryption, PIN-generation authentication, etc.

Popular payment gateways like- PayPal, Braintree, and Stripe have enabled robust security features with a powerful authentication mechanism that made their e-wallet system one of the most secure ones. Thereby only authorized users can access and make transactions through the E-wallet app.


Presently, users are more likely to do things on their own. The DIY concept goes with the registration process too, wherein users are allowed to register following a couple of steps. Users only need to download the application, complete the KYC process, confirm registration, set login ID and password, link bank accounts, and add money.

Rewards and Discount Coupons

Reward points and discount coupons are among the most crucial arsenal for digital marketers of your e-wallet app. E-wallets provide marketers with an ideal environment to market additional financial services to customers with such user-friendly mobile app features. It would help if you built rewards and loyalty programs to encourage users to use the app frequently which helps to increase app user retention and engagement with word-of-mouth publicity as added benefit. With fierce competition in the market, it’s difficult to make your online wallet app stand out. Here, providing rewards and discounts to your e-wallet app users for using the app increases their interest in the app. This way user retention rates and engagements are increased.

Planning and Budgeting

Though there are specialized apps for planning and budgeting, they require users to share their bank accounts and transaction information, scaring users of data theft and misuse.

Integrating planning and budgeting features into your e-wallet app will allow users to optimize their spending. The users don’t have to input any payment information as it will already be available in your database. In fact, this will encourage users to prefer making payments via your digital wallet app. Also, implementing data analytics to this feature will be a wise investment.

A futuristic and reliable e-wallet mobile app should help customers spend wisely. Category-wise budget allocation, bill payment reminders, creation of categories for income and expenses, budget limit alerts, and saving goals are some of the ideas to make this planning and budgeting feature effective.

Fintech App Development Guide

Ready to include top features in your E-wallet app?

E-wallet app development is a time-consuming and expensive endeavor that brings results in the crowded market only when it gains an edge with a set of functionalities. Integrating the optimal features and functionalities that serve the purpose and create USP are all-important for developing a successful e-wallet app. Go through the extensive list of E-wallet app features and determine which features to keep in the app to ensure the success of your application.

Features discussed here are must-haves for a successful e-wallet app. However, the world of online payments is continuously evolving, making it necessary for your e-wallet app to be ready to adapt to changes.

Avantika Shergil Avantika Shergil   |  Sep 6, 2023

An enthusiastic Operations Manager at, coordinating and managing the technical and functional areas. She is an adventure lover, passionate traveler, an admirer of nature, who believes that a cup of coffee is the prime source to feel rejuvenated. Researching and writing about technology keeps her boosted and enhances her professional journeying.


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